product development
noun[U]
MARKETING,PRODUCTIONukustheprocessofcreatingorimprovingaproductorserviceandmanagingit during allstagesfromdesignthroughmarketing:
The company'sdisappointingperformancewasblamedon notkeepingpacewithchangingproductdevelopmentin theindustry.
See also
new-product development